Pre-earnings brief
Reports
Tue, Nov 3, 2026
Est. EPS
—
Est. revenue
—
Implied move
±5.0%
EPS beat rate
100%
Zebra Technologies Corporation is a leader in providing technology solutions that help businesses improve their operations and efficiency. Operating in the Information Technology sector, Zebra focuses on electronic equipment and instruments, which are crucial for industries like retail and logistics, especially as they adapt to digital transformation and automation trends.
Last quarter
In Q2 2026, Zebra Technologies reported an impressive EPS of $6.35, significantly beating expectations by nearly 82%. This strong performance led to a notable stock increase of over 26% the following day.
EPS beat streak
8Q
EPS beat rate
100%
Avg EPS surprise
+30.37%
Avg 1-day reaction
+3.26%
Investors are optimistic about Zebra's upcoming earnings, especially given its recent strong performance. However, there is uncertainty about whether the company can maintain this momentum in a potentially challenging economic environment.
Bull case
If Zebra continues to deliver strong earnings and revenue growth, it could solidify its position as a market leader, driving further stock appreciation.
Bear case
Conversely, if the company fails to meet expectations or faces increased competition, it could lead to a significant decline in stock value.
The print will turn on these.
Q1
What will the EPS be this quarter, and how does it compare to previous quarters?
Given Zebra's strong EPS surprises in the past, this figure will be crucial in determining market sentiment and stock movement.
Q2
What insights can management provide on revenue growth and operational efficiency?
Understanding revenue trends and operational performance will help investors gauge the company's future prospects and competitive position.
—
Est. EPS
$-0.50
Est. Rev
$257M
Impl. Move
±8.7%
Why consensus could be wrong
The Street may be underestimating Zebra's ability to maintain its growth trajectory, especially given its recent strong performance.
Supporting evidence
Zebra has consistently beaten EPS estimates, indicating strong operational execution.
The options market is pricing a smaller move than historical averages, suggesting potential upside.
Recent trends in automation and efficiency solutions may drive demand for Zebra's products.
Key risk
If EPS comes in below $5.50, it could significantly shift market sentiment and expectations.
Pre-commit to what would confirm each case.
This quarter's performance is critical as it will either reinforce Zebra's growth trajectory or signal potential challenges ahead.
Bull confirmed if
Earnings per share exceeding $6.50 would confirm the bull case, indicating strong profitability.
Bear confirmed if
Any EPS below $5.50 would raise concerns about the company's ability to sustain growth.
What the market is pricing for the move.
Implied Move
±5.04%
Historical Avg
±11.1%
The options market is pricing in a potential move of about 5% in either direction, indicating some uncertainty surrounding the earnings report.
Options are pricing ±5.0% while ZBRA has averaged ±11.1% over the last 8 prints — setup is pricing cheap.
ATM IV
0.4%
30d HV
25.9%
Cross-company pattern from 30 similar setups.
Prior-quarter beat + options pricing cheap in Information Technology
Fade rate: 13 of 29 (45%)
This setup has occurred 30 times across Information Technology in the last 2 years. 13 of 29 faded and 16 held — no strong directional bias after the initial reaction. The average absolute 1-day move is 4.9%, with a raw directional average of -2.4% (modestly negative historical bias).
Smart-money positioning from the most recent 13F filings.
Institutional
105.90%
of float
Insider
0.85%
of float
Holders
941
institutions
Top Holders· as of Jun 2026
Blackrock Inc.
3,311,526 sh · $1.3B
6.95%
-21.2%
Likely market behavior by outcome. Not investment advice.
Beat & raise
If Zebra beats expectations, history suggests a potential stock increase of around 3.26%, confirming its strong market position.
In line / cautious
If results are in line with expectations, the stock may react cautiously, reflecting ongoing uncertainty in the market.
Miss
A miss could lead to a significant decline, with historical data suggesting an average drop of around 11.10% following disappointing results.
The lines on the call that would change the story.
Vanguard Capital Management LLC
3,114,262 sh · $1.2B
6.54%
-2.7%
Vanguard Portfolio Management LLC
2,667,369 sh · $1.0B
5.60%
-4.8%
Boston Partners
2,617,838 sh · $1.0B
5.50%
78.0%
State Street Corporation
1,884,644 sh · $727.6M
3.96%
-12.7%
13F filings updated quarterly. Position deltas show change in shares vs. the prior quarter.